Interview with @sawsells Jeff Gabriel thedomains.com/2025/02/06/in…

When purchasing a $15k premium domain name at GoDaddy (hypothetically, where it's currently registered): GoDaddy must complete: 1. Payment Processing Transaction clearing must complete. Settlement process needs to finish. Funds must be verified. 2. Identity Verification (due to $15k amount) Bank Secrecy Act requires verification above $10k. Standard banking KYC procedures must be followed. 3. Owner Verification Current owner must match seller. Authority to sell must be verified. 4. Listing Verification Listing must be confirmed as current. Price must be verified as valid. Seller's contact information must be checked. A blockchain-based domain sales system using stablecoins would: 1. Replace Payment Processing - Crypto transactions settle near-instantly 2. Verify Ownership - The blockchain would provide immutable proof of ownership 3. Verify Listing - Smart contracts would ensure listings are current and valid But #2 (Identity Verification) would still be legally required because: * Bank Secrecy Act requirements exist regardless of payment method * KYC/AML laws apply to crypto transactions over $10k * Many companies would require KYC/AML at lower thresholds to reduce financial risk * Legal reporting requirements for large transactions remain So while blockchain could streamline most of the process, regulatory compliance for large transactions would still create some delay.